Bryn Mawr's Ali Velshi out at CNN, in at Al Jazeera America

The "Hairless Prophet of Doom," as he is known to Jon Stewart, won't be on CNN come Friday. Bryn Mawr-based Ali Velshi, CNN’s chief business correspondent, is leaving CNN after 12 years at the 24/7 news network.

As initially reported earlier today by The New York Times, Velshi confirmed for me that he's joining Al Jazeera America. But he's not leaving his home in Bryn Mawr and the new gig may even allow him more time to enjoy Philly, he said.

"l'll probably spend more time in Bryn Mawr. CNN had become all-consuming. I was doing economics, weather," Velshi told me this evening. "This will probably mean more family time and more Philly time, which is nice."

Velshi regularly appeared CNN's business programming, hosting weekend program "Your Money," among other duties. But Velshi also reported on such international events as the assassination Pakistani politician Benazir Bhutto and Hurricane Sandy.

EARLIER: The New York Times' Brian Stelter announced that Velshi is the first hire at Al Jazeera America. Al Gore recently sold his cable network, Current, over to Al Jazeera, which is expected to launch in the first half of 2013.

ALSO EARLIER: TV Newser had more details for Velshi's new venture. Velshi will host a "half-hour 'magazine-style' show" that will start weekly and expand to five nights a week.